Overview

AFS Paralender is the post-origination module of the AFS Straight-Through Processing business model. Paralender automates loan set-up, documentation, closing, and booking. Customized based on business rules reflecting bank policies, product definitions, user roles, and operating procedures, as well as the AFS "best practices" experience, Paralender manages the loan closing, funding, and booking workflow. The system creates value by reducing staffing costs, increasing productivity, mitigating credit and operational risk, and minimizing revenue leakage.

AFS clients can select their Paralender delivery from the module's two components: post-approval and post-closing.

	Post-Approval manages the workflow after the loan has been approved. It supports an interface to a document preparation system and the auto-booking of the loan and collateral to the AFS Level III™ Loan Accounting System.
	Post-Closing manages the workflow after the documents have been produced. It includes the auto-booking of the loan and collateral to the AFS Level III Loan Accounting System.

Benefits

	Manage Risk: AFS Paralender ensures adherence to bank procedures and policies through automated processes to mitigate: Credit risk — Loan and collateral documentation is complete, enhancing lender recourse and reducing credit risk and loan losses. Operational risk — By monitoring loan and collateral workflow through booking, eliminates process exceptions, provides an audit trail, establishes accountability for work completion, and eliminates manual errors in re-entering and transferring data. Regulatory Exposure — Workflow automation demonstrates management control of operational processes and an ability to enforce policy and procedures unilaterally.
	Cut Costs: By automating many of the processes that have historically been manual (document production, perfection, customer notification, loan and collateral booking) staffing costs are dramatically reduced. In addition, significantly less staff time is required for manually intensive error research and resolution. Reporting focused on productivity management enhances time to market, turnaround, and staff efficiency.
	Generate Revenue: Revenue accrues earlier in the process due to faster booking. Customer satisfaction and retention are increased through superior customer service.

Features

	Books quality-assured loan information to Level III electronically, including borrower, obligation, collateral, and guarantor data
	Interfaces with document preparation systems: Adobe (JetForms), LaserPro, HotDocs
	Manages collateral
	Supports selected customer service and other functions after loan closing
	Monitors staff productivity
	Automates workflow, tracking of all steps needed to close. This capability includes graphical representation of the workflow steps, which permits forward and backward navigation through the delivery process.